Black Friday Tip #1: Use a Credit Card with Price Protection to Save Even More Money!

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With Black Friday just a few weeks away and deals already starting, I am putting together many posts on tips to maximize your savings! This first tip is one of my favorites since it could potentially put some unexpected money back into your pocket after your purchase — as long as you use the right credit card to make your purchase! There are a few credit cards that come with Price Protection (this is different than Purchase Protection) and if the price of the item you purchased goes down within a set time period, your credit card will actually reimburse you the difference — up to 120 days later, depending on the credit card! So if you have a hunch that the item you are purchasing might in fact go down in price, make sure to use one of these credit cards:

MasterCard

For any World Elite MasterCard issued in the U.S., you’ll receive price protection benefit. So even if you have a Barclays or Capital One credit card which do not offer their own benefits, MasterCard will still have you covered — such as the Barclaycard Arrival Plus World Elite MasterCard and Capital One Savor Cash Rewards Credit Card (Learn More). Since it has to be a “World Elite MasterCard” and not a regular “MasterCard” this definitely limits the number of cards eligible, however, the cards do have this benefit win the award in having the most number of days to find a price reduction for your purchase.

Caps

Days for the price to decrease: 120 days after purchase

Refund difference cap: $250 per item

Refund cap per year: $1,000 per year

How to File a Claim

Use your eligible card to charge the full amount of your purchase of the eligible item. Save all original receipts, both card paperwork and itemized store receipt.

If you see the identical product by the same manufacturer advertised in print for a lower retail price within one hundred and twenty (120) days after the purchase, obtain and retain the original printed advertisement. Only items advertised by authorized dealers in the United States apply. Price differences involving manufacturer and/or merchant rebates, shipping and handling fees, and sales tax, if any, are not covered by the Price Protection benefit.

Within ten (10) days of the printed advertisement, call our toll-free number at 1-800-553-7520. You will receive a claim form that details the necessary procedures to file your claim. Follow the instructions on the letter carefully. Return the completed claim form along with:

The original itemized sales receipt

The original card receipt demonstrating that the entire purchase was made on your eligible card, and

Real estate and items which are intended to become part of real estate

Traveler’s checks, cash, tickets, credit or debit cards, and any other negotiable instruments

Items purchased outside of the United States

Items without a manufacturer’s U.S. warranty (warrantable items only)

Previously owned, sold “as is,” and refurbished items

Chase

Currently, you’ll only receive price protection with the following Chase credit cards. Keep in mind though that this list could always shorten next year, unfortunately. These cards offer the highest amount you can receive back per item and per year.

IHG Rewards Club Select Card (no longer available for new applicants )

IHG Rewards Club Classic Card (no longer available for new applicants)

IHG Rewards Club Business Credit Card (no longer available for new applicants)

Hyatt Credit Card (no longer available for new applicants)

Caps

Days for the price to decrease: 90 days after purchase

Refund difference cap: $500 per item

Refund cap per year: $2,500 per year

How to File a Claim

File a claim online at www.eclaimsline.com or call 1-888-320-9656 within 21 days of the date of the advertisement

The Benefit Administrator will send you a claim form, you must submit a completed claim form and supporting documentation within 45 days of requesting the claim form

The printed or non-auction internet advertisement must include a description of an item identical to the one purchased along with the sale price, the store or dealer’s name and the date(s) the sale is in effect

Sale date in the advertisement must be within 90 days after the original purchase date

Items Not Covered

This is not an exhaustive list. Examples include:

Boats, automobiles, and any other motorized vehicles and their motors, equipment, and accessories

Citi

Citi offers price protection for all of their personal cards, which is great. Not only that, they will actually do the work for you! The Citi Price Rewind tool allows you to enter all your purchases and immediately they will try to find you a lower price. You can manually submit a claim as well if you find a lower price on your own. Example of Citi credit cards that come with this benefit include:

Motorized vehicles (such as cars, trucks, motorcycles, boats, or airplanes) and their parts

Land and buildings

Negotiable instruments (such as promissory notes)

Cash and its equivalent.

Any store with an established best guarantee program

Price comparisons found on the internet do not qualify

Overall…

Making sure to use a credit card that offers price protection can ensure that you are actually getting the best possible price. While some stores will give you a price adjustment after a week or two of your purchase if you bring in your receipt, the credit cards give you a much longer time frame and the sale price can be at any eligible store (not the same store you purchased your item at). The item can have also been gifted or opened and you’ll still be able to receive a difference in the price as long as all of the other terms are met. While there is definitely some manual work to be done on your end, it could definitely be worth it for large ticket items.

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About Jen

My passion (and obsession!) for travel deals and points started over nine years ago the day I graduated college and took a job in management consulting. I’d spend every Monday through Thursday hotel hoping and embarking on long plane rides just to earn the extra points and miles. Since I was traveling all the time I decided that I was really going to take advantage of the points and miles game... Learn more about Jen »

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